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The unemployment rate for September 2024 remains at 4.1%.

Shona Stephenson

The Australian Bureau of Statistics reported that the unemployment rate in September 2024 stayed at 4.1% after adjustments. The employment-to-population ratio matched its 2023 high of 64.4% and reached its highest participation rate of 67.2%.

Source: Australian Bureau of Statistics. 

In trend terms, during September 2024, we observed several noteworthy developments that impacted various sectors and markets.

  • Unemployment rate remained at 4.1%. 

  • The participation rate increased to 67.2%.

  • Employment increased to 14,514,300 year-on-year. 

  • The employment-to-population ratio remained at 64.4%.

  • The underemployment rate remained at 6.4%.

  • The monthly hours they worked were increased to 1,965 million.

Source: Australian Bureau of Statistics

In seasonally adjusted terms, in September 2024:

  • The unemployment rate remained at 4.1%.

  • The participation rate increased to 67.2%.

  • The employment increased to 14,521,900.

  • The employment-to-population ratio increased to 64.4%.

  • The underemployment rate decreased to 6.3%.

  • The monthly hours they worked were increased to 1,968 million.

  • Full-time employment increased by 51,600 for September to 10,028,400 people.

  • Part-time employment increased by 12,500 to 4,493,500 people.

Source: Australian Bureau of Statistics

How does the employment-to-population ratio in Australia compare with that of the Organisation for Economic Cooperation and Development (OCED ) countries?

  1. New Zealand 67.2%, unemployment rate 4.2%

  2. Netherlands 64.2%, unemployment rate 3.7%

  3. Switzerland 63.6%, unemployment rate 2.5%

  4. Norway 62.9%, unemployment rate 4%

  5. Iceland 62.5%, unemployment rate 2.5%

  6. Australia 62.4%, unemployment rate 4.1%

  7. Korea South 60.7%, unemployment rate 2.5%

  8. Canada 60.3%, unemployment rate 6.5%

  9. Japan 60.2%, unemployment rate 2.5%

  10. United Kingdom 59.7%, unemployment rate 4%

Source: Australian Bureau of Statistics

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